Guideline Value for D.E.D 2nd Cross Street

D.E.D 2nd Cross Street guideline value

The current guideline value of D.E.D 2nd Cross Street, Kottivakkam village, under the Adayar SRO is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of D.E.D 2nd Cross Street has changed

Since the early 2000s, the guideline value for D.E.D 2nd Cross Street has seen significant changes. In 2003, the guideline value was Rs 500 per sq.ft. This increased to Rs 2,400 per sq.ft in 2007, marking a substantial rise of 380%. The value then saw a further increase to Rs 3,500 per sq.ft in 2012, which was a 46% increase from the previous revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The guideline value rebounded to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 680%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which matches the current guideline value of D.E.D 2nd Cross Street.

• D.E.D 1st Street: Rs 3,900 per sq.ft (2024)
• D.E.D 2nd Street: Rs 3,900 per sq.ft (2024)
• D.E.D 1st Cross Street: Rs 3,900 per sq.ft (2024)
• D.E.D 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• D.E.D 11th Street: Rs 3,900 per sq.ft (2024)
• D.E.D 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in D.E.D 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers D.E.D 2nd Cross Street?

The D.E.D 2nd Cross Street is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Kottivakkam

The guideline value plays a crucial role in property transactions in Kottivakkam. It is used as a reference point for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees during registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of D.E.D 2nd Cross Street?

The current guideline value of D.E.D 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 500 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 680% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registration for D.E.D 2nd Cross Street?

The Adayar Sub Registrar Office handles the registration for D.E.D 2nd Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for D.E.D 2nd Cross Street?

D.E.D 2nd Cross Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.